90803 Market Update: June 2016

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June 2016 Real Estate Market Update for the 90803 Area of Long Beach

The 90803 market update includes the neighborhoods of Belmont Shore, Belmont Park, Belmont Heights, Naples, the Peninsula, Bluff Park, Bluff Heights, Spinnaker Bay and Spinnaker Cove, University Park Estate, and Bixby Village

While May brought peak home prices for much of Long Beach, in 90803, the median May 2016 home price of $915,450 was 20.4% lower than it was last May.

The median sale price of single family homes in 90803 has fluctuated greatly in recent years. At $915,450 in May 2016, the median price has actually dropped 20.4% from a year ago in May. Fluctuations in price are not unusual in 90803 and home prices in the area are still substantially higher than for Long Beach overall. As of May 2016, the median home price in Long Beach was $565,000.

There were 78 active listings in May 2016. Though 90803 has experienced a lot of fluctuation in the number of active listings, the number is up 13% from May 2015 and up slightly from April 2016.

Though inventory in Long Beach is very low, the supply of homes for sale in 90803 is fairly balanced. There was a 4.3 month supply of homes on the market in May 2016, which reflects a 10.3% increase from the year prior in May. Since February 2016, inventory has climbed in 90803.

Condominiums in 90803

Condominium prices in Long Beach have fluctuated a lot in recent years. In May 2016, the median price of condos in Long Beach was $452,450, which is up 5% from the year prior in May.

Active listings have been increasing since March 2016 in 90803. There were 38 active listings in May 2016, which is an 8.6% increase from the year prior in May.

Condominium inventory in Long Beach is lower than the supply of single family homes. In May 2016 there was a 2.9 month supply of condos. Compared to a year ago in May, inventory has not changed. However, in March 2016 there was just a 1.8 month supply, which is extremely low.

Recently Sold Homes and Homes in Escrow in 90803

$4,495,000
Multi-Family For Sale
Active Under Contract
0.3152
ACRES
LOS ANGELES
COUNTY
15 38th Place
Long Beach, CA 90803
Belmont Shore (BSD) Subdivision
$2,749,000
Single Family Home For Sale
Active Under Contract
4
BED
4
TOTAL BATHS
5,409
SQFT
2934 E 1st Street
Long Beach, CA 90803
Bluff Park (BLF) Subdivision
New Listing - a week online
$2,495,000
Multi-Family For Sale
Active Under Contract
0.1053
ACRES
LOS ANGELES
COUNTY
102 Pomona Avenue
Long Beach, CA 90803
Belmont Shore (BSD) Subdivision
$2,140,000
Single Family Home For Sale
Active Under Contract
3
BED
4
TOTAL BATHS
2,533
SQFT
44 Palermo
Long Beach, CA 90803
Treasure Island (TI) Subdivision
New Listing - a week online
$2,050,000
Single Family Home For Sale
Active Under Contract
5
BED
3
TOTAL BATHS
2,531
SQFT
89 Rivo Alto Canal
Long Beach, CA 90803
Naples (NA) Subdivision
New Listing - 3 weeks online
$1,995,000
Single Family Home For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
1,738
SQFT
138 Rivo Alto Canal
Long Beach, CA 90803
Naples (NA) Subdivision
$1,975,000
Single Family Home For Sale
Active Under Contract
3
BED
3
TOTAL BATHS
2,795
SQFT
355 Whites Landing
Long Beach, CA 90803
Spinnaker Bay (SY) Subdivision
$1,799,900
Single Family Home For Sale
Active Under Contract
3
BED
4
TOTAL BATHS
2,862
SQFT
5984 Spinnaker Bay Drive
Long Beach, CA 90803
Spinnaker Bay (SY) Subdivision
$1,795,000
Multi-Family For Sale
Active Under Contract
0.1207
ACRES
LOS ANGELES
COUNTY
14 38th Place
Long Beach, CA 90803
Belmont Shore (BSD) Subdivision
$1,597,500
Single Family Home For Sale
Active Under Contract
3
BED
3
TOTAL BATHS
2,265
SQFT
5924 Spinnaker Bay Drive
Long Beach, CA 90803
Spinnaker Bay (SY) Subdivision
$1,595,000
Multi-Family For Sale
Active Under Contract
0.1497
ACRES
LOS ANGELES
COUNTY
232 Euclid Avenue
Long Beach, CA 90803
Belmont Heights (BH) Subdivision
$1,549,000
Single Family Home For Sale
Active Under Contract
4
BED
4
TOTAL BATHS
2,310
SQFT
5397 E Appian Way
Long Beach, CA 90803
Belmont Shore (BSD) Subdivision
$1,495,000
Multi-Family For Sale
Active Under Contract
0.0682
ACRES
LOS ANGELES
COUNTY
29 Saint Joseph Avenue
Long Beach, CA 90803
Belmont Shore (BSD) Subdivision
$1,495,000
Multi-Family For Sale
Active Under Contract
0.1492
ACRES
LOS ANGELES
COUNTY
254 Redondo Avenue
Long Beach, CA 90803
Belmont Heights (BH) Subdivision
$1,450,000
Single Family Home For Sale
Active Under Contract
4
BED
3
TOTAL BATHS
2,878
SQFT
265 Park Avenue
Long Beach, CA 90803
Belmont Heights (BH) Subdivision
New Listing - a week online
$1,400,000
Single Family Home For Sale
Active Under Contract
3
BED
3
TOTAL BATHS
2,385
SQFT
245 Belmont Avenue
Long Beach, CA 90803
Belmont Heights (BH) Subdivision
$1,390,000
Single Family Home For Sale
Active Under Contract
4
BED
3
TOTAL BATHS
2,465
SQFT
5728 Campo Walk
Long Beach, CA 90803
Naples (NA) Subdivision
$1,370,000
Single Family Home For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
1,964
SQFT
5926 E Appian Way
Long Beach, CA 90803
Naples (NA) Subdivision
New Listing - 2 weeks online
$1,295,000
Single Family Home For Sale
Active Under Contract
5
BED
3
TOTAL BATHS
3,434
SQFT
131 Siena Drive
Long Beach, CA 90803
Naples (NA) Subdivision

Bottom Line

The real estate market in 90803 is hot right now! Whether you’re looking to buy or sell, now is a great time. If you’re thinking about putting your condo on the market, now is an especially good time as inventory is fairly low. If you’re thinking about buying or selling, give us a call or fill out the form below and we’d be happy to help!

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